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Are we expecting BOE to remain at 4.75% on 8th February 2025?
Comments
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Slightly tangential, but some good news for a Friday.
Lincolnshire beans could provide British solution to imports
https://www.bbc.co.uk/news/uk-england-lincolnshire-65908618
To solve inequality and failing productivity, cap leverage allowed to be used in property transactions. This lowers the ROI on housing, reduces monetary demand for housing, reduces house prices bringing them more into line with wage growth as opposed to debt expansion.
Reduce stamp duty on new builds and increase stamp duty on pre-existing property.
No-one should have control of setting interest rates since it only adds to uncertainty. Let the markets price yields, credit and labour.0 -
That doesn't make such a good scare story though does it?Strummer22 said:
Up to 750 from 500. I think in this case the absolute numbers are instructive, although of course if they continue to rise 50% quarter-on-quarter it won't be long until that number is actually frightening.Aberdeenangarse said:
Frightening to see repossessions up 50% in the last quarter!lojo1000 said:Here begin the cries for help for those who overcommitted on their mortgage.
https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live?filterKeyEvents=false&page=with:block-648bfde38f08abfd8db3db78#block-648bfde38f08abfd8db3db782 -
Difficult question I really can’t answer. I actually own two BTL’s and the rent the tenants are paying was already below the market rate and is now well below. Probably by about 25%!lojo1000 said:
Serious question, to draw a comparison. Would you also support financial help for renters who fall behind on their rent because the rent went up?Aberdeenangarse said:
It was only a question of time. I doubt they’ll be much the Government can do to prop up the housing market before the next General Election, and bringing MIRAS back is a no no. Frightening to see repossessions up 50% in the last quarter! I quite like the LibDems idea for targeted help to stop people losing their homes. Sensible idea.lojo1000 said:Here begin the cries for help for those who overcommitted on their mortgage.
https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live?filterKeyEvents=false&page=with:block-648bfde38f08abfd8db3db78#block-648bfde38f08abfd8db3db781 -
So raise the rents at the next opportunity.Aberdeenangarse said:
Difficult question I really can’t answer. I actually own two BTL’s and the rent the tenants are paying was already below the market rate and is now well below. Probably by about 25%!lojo1000 said:
Serious question, to draw a comparison. Would you also support financial help for renters who fall behind on their rent because the rent went up?Aberdeenangarse said:
It was only a question of time. I doubt they’ll be much the Government can do to prop up the housing market before the next General Election, and bringing MIRAS back is a no no. Frightening to see repossessions up 50% in the last quarter! I quite like the LibDems idea for targeted help to stop people losing their homes. Sensible idea.lojo1000 said:Here begin the cries for help for those who overcommitted on their mortgage.
https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live?filterKeyEvents=false&page=with:block-648bfde38f08abfd8db3db78#block-648bfde38f08abfd8db3db780 -
They are long term decent tenants and I somehow doubt either of them could afford to pay the going rate and I’m certainly not going to throw them out on the streets! The last increase, a year ago, was 5% which I thought fair. The properties are mortgage free and just extra money to me, ensuring a well off retirement!RelievedSheff said:
So raise the rents at the next opportunity.Aberdeenangarse said:
Difficult question I really can’t answer. I actually own two BTL’s and the rent the tenants are paying was already below the market rate and is now well below. Probably by about 25%!lojo1000 said:
Serious question, to draw a comparison. Would you also support financial help for renters who fall behind on their rent because the rent went up?Aberdeenangarse said:
It was only a question of time. I doubt they’ll be much the Government can do to prop up the housing market before the next General Election, and bringing MIRAS back is a no no. Frightening to see repossessions up 50% in the last quarter! I quite like the LibDems idea for targeted help to stop people losing their homes. Sensible idea.lojo1000 said:Here begin the cries for help for those who overcommitted on their mortgage.
https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live?filterKeyEvents=false&page=with:block-648bfde38f08abfd8db3db78#block-648bfde38f08abfd8db3db783 -
Not sure how that becomes your problem.Aberdeenangarse said:
They are long term decent tenants and I somehow doubt either of them could afford to pay the going rate and I’m certainly not going to throw them out on the streets! The last increase, a year ago, was 5% which I thought fair. The properties are mortgage free and just extra money to me, ensuring a well off retirement!RelievedSheff said:
So raise the rents at the next opportunity.Aberdeenangarse said:
Difficult question I really can’t answer. I actually own two BTL’s and the rent the tenants are paying was already below the market rate and is now well below. Probably by about 25%!lojo1000 said:
Serious question, to draw a comparison. Would you also support financial help for renters who fall behind on their rent because the rent went up?Aberdeenangarse said:
It was only a question of time. I doubt they’ll be much the Government can do to prop up the housing market before the next General Election, and bringing MIRAS back is a no no. Frightening to see repossessions up 50% in the last quarter! I quite like the LibDems idea for targeted help to stop people losing their homes. Sensible idea.lojo1000 said:Here begin the cries for help for those who overcommitted on their mortgage.
https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live?filterKeyEvents=false&page=with:block-648bfde38f08abfd8db3db78#block-648bfde38f08abfd8db3db78
You could have an even more well off retirement if they were paying market rate.0 -
lojo1000 said:More pain for those looking to remortgage today as wages rise more than expected.Surely there are more things causing inflation than just wage increases/decreases?I would say that wage increases 4% below inflation is causing inflation to decrease.0
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Couldn't the Bank's just agree to extend current fixed deals to prevent mass repossessions?0
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Nope, they cannot borrow at a rate on the markets to be able to lend at 1.5%, they would be losing money, hence rates to consumers rising to reflect the cost of borrowing.Maka344 said:Couldn't the Bank's just agree to extend current fixed deals to prevent mass repossessions?1
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